Oligarch sues Chelsea owner for £2bn

Friday 18 April 2008 19.17 EDT
First published on Friday 18 April 2008 19.17 EDT

UK-based oligarch Boris Berezovsky yesterday launched a £2bn lawsuit against Roman Abramovich, claiming the Chelsea football club owner had used "threats and intimidation" to force him to sell shares at a knockdown price.

Lawyers for the two Russian billionaires began preliminary skirmishes at the high court in London over Berezovsky's long-standing claims against his former business partner.

The court heard allegations that 62-year-old Berezovsky was forced to sell shares in the Russian oil company Sibneft and aluminium giant Rusal for less than their market value. Berezovsky claims Abramovich told him the Russian state would confiscate his assets if he didn't sell them and offered him much less than they were worth.

He also claims that Abramovich used the freedom of Nikolai Glushkov, the former deputy director-general of Aeroflot who was in jail in Russia, as a "bargaining chip" to try to get him to sell his shares.

Barbara Dohmann QC, for Berezovsky, said: "The course of conduct was intended to induce Mr Berezovsky to sell his beneficial interest in Sibneft shares."

Neither Berezovsky nor Abromovich were in court.

Andrew Popplewell QC, representing Abramovich, dismissed the allegations, telling the court Abramovich viewed them as "hopeless and a complete try-on".

He said he would be considering making an application to have the action struck out because it had no chance of success.

Popplewell told the court the arguability of the claims depended wholly on oral conversations.